Fiduciary Financial Group LLC Buys 201 Shares of AbbVie Inc. (NYSE:ABBV)

Fiduciary Financial Group LLC grew its stake in AbbVie Inc. (NYSE:ABBV) by 13.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,668 shares of the company’s stock after purchasing an additional 201 shares during the period. Fiduciary Financial Group LLC’s holdings in AbbVie were worth $292,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ABBV. Quest Partners LLC increased its stake in shares of AbbVie by 4,140.0% in the 2nd quarter. Quest Partners LLC now owns 212 shares of the company’s stock worth $36,000 after acquiring an additional 207 shares in the last quarter. Financial & Tax Architects LLC increased its stake in AbbVie by 6.1% during the 2nd quarter. Financial & Tax Architects LLC now owns 37,551 shares of the company’s stock valued at $6,441,000 after purchasing an additional 2,146 shares in the last quarter. E Fund Management Co. Ltd. increased its stake in AbbVie by 42.0% during the 2nd quarter. E Fund Management Co. Ltd. now owns 18,710 shares of the company’s stock valued at $3,209,000 after purchasing an additional 5,533 shares in the last quarter. Meridian Wealth Partners LLC increased its stake in AbbVie by 3.2% during the 2nd quarter. Meridian Wealth Partners LLC now owns 5,013 shares of the company’s stock valued at $860,000 after purchasing an additional 157 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in AbbVie by 53.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 486,025 shares of the company’s stock valued at $83,363,000 after purchasing an additional 169,211 shares in the last quarter. 70.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABBV has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of AbbVie in a research note on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective for the company. Wells Fargo & Company raised their price target on shares of AbbVie to $195.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. BMO Capital Markets dropped their price target on shares of AbbVie from $228.00 to $208.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Piper Sandler raised their price target on shares of AbbVie from $212.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Morgan Stanley dropped their price target on shares of AbbVie from $231.00 to $224.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, AbbVie has a consensus rating of “Moderate Buy” and an average price target of $205.50.

Insider Buying and Selling

In other AbbVie news, SVP Kevin K. Buckbee sold 1,800 shares of AbbVie stock in a transaction on Monday, December 16th. The shares were sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares of the company’s stock, valued at $1,202,751.92. The trade was a 20.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.

AbbVie Trading Down 2.4 %

AbbVie stock opened at $171.32 on Thursday. The stock has a market cap of $302.75 billion, a P/E ratio of 59.49, a PEG ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 9.64, a current ratio of 0.65 and a quick ratio of 0.54. AbbVie Inc. has a 1 year low of $153.58 and a 1 year high of $207.32. The firm’s 50 day moving average price is $177.47 and its 200-day moving average price is $184.63.

AbbVie (NYSE:ABBV) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.08. AbbVie had a net margin of 9.22% and a return on equity of 244.01%. The company had revenue of $14.46 billion for the quarter, compared to analysts’ expectations of $14.28 billion. During the same quarter in the previous year, the business posted $2.95 earnings per share. AbbVie’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts predict that AbbVie Inc. will post 10.96 earnings per share for the current fiscal year.

AbbVie Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Wednesday, January 15th will be given a $1.64 dividend. This represents a $6.56 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Wednesday, January 15th. This is a boost from AbbVie’s previous quarterly dividend of $1.55. AbbVie’s payout ratio is currently 227.78%.

AbbVie Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.